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To recover over ₹7,000 crore of investor money from Pancard Clubs, market regulator SEBI has put on sale a total of 40 properties, along with five vehicles owned by the firm, at a total reserve price of over ₹742.79 crore next month.
The Securities and Exchange Board of India in a notice issued on Tuesday said it has engaged SBI Capital Markets “to assist it for sale of the properties of Pancard Clubs through e-auction platform” on October 24. Besides, for the auction of the five vehicles, SEBI has sought the services of C1 India, the regulator added.
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